MTG Buys Latvia’s LNT

By FNE Staff

    Modern Times Group (MTG, www.mtg.se) the international entertainment broadcasting group, completed the acquisition of 100% of the Latvian free commercial TV group AS Latvijas Neatkarīgā Televīzija (LNT, www.lnt.lv) for an undisclosed cash consideration, following approval from the Latvian Competition Council.

    MTG assumed management control of LNT as of 1 June 2012. The results for LNT will be reported as part of the Group's Baltic free-TV operations, which are included in the ‘Baltics, Czech Republic and Bulgaria' segment of MTG's financial reports.

    LNT is the second largest free-TV operator in Latvia, and broadcasts national channel LNT, Russian language channel TV5 and entertainment channel Kanals 2.